UK banks received approximately 10,000 complaints over a three-month period regarding restrictions on cryptocurrency transactions, according to the Securities and Wealth Management Association (SWC). The complaints highlight significant inconsistencies in how financial institutions handle crypto-related transfers.
Restrictions vary widely among major lenders. Barclays limits crypto transfers to £2,500 ($3,340) per transaction and £10,000 over 30 days, while NatWest and Santander also enforce explicit transaction and monthly caps. Conversely, Chase, Starling, TSB, Metro Bank, and Virgin Money prohibit crypto transactions entirely. Banks with published limits accounted for 61% of the complaints, compared to 28% involving institutions without published restrictions and under 10% involving those with outright bans.
The SWC argues that blanket restrictions conflict with regulatory expectations for proportionate, case-by-case risk management and fail to provide customers with clear information. The association urges banks to publish transparent explanations of their policies and establish meaningful channels for customers to challenge blocked transfers, noting that current opacity makes it difficult for users to switch institutions reliably.
UK Banks Face 10,000 Crypto Restriction Complaints Amid Inconsistent Policies
면책 조항: Phemex 뉴스에서 제공하는 콘텐츠는 정보 제공 목적으로만 제공됩니다. 제3자 기사에서 출처를 얻은 정보의 품질, 정확성 또는 완전성을 보장하지 않습니다.이 페이지의 콘텐츠는 재무 또는 투자 조언이 아닙니다.투자 결정을 내리기 전에 반드시 스스로 조사하고 자격을 갖춘 재무 전문가와 상담하시기 바랍니다.
